Pennock Hospital
- Assets
- $99.7m
- Revenue
- $55.4m
- Investments
- $0.0
- Employees
- 740
- Location
- Grand Rapids, MI
- Founding
- 03/2014
- Data as of
- 06/2015
- EIN
- 38-1360562
Organization Overview
Pennock Hospital, operating under the name Spectrum Health Pennock, is located in Grand Rapids, MI. The organization was established in 2014. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 12/2021, Spectrum Health Pennock employed 740 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Spectrum Health Pennock is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2015
Describe the Organization's Mission:
Part 3 - Line 1
THE HOSPITAL'S PRIMARY MISSION IS TO PROVIDE HEALTHCARE SERVICES TO THE CITIZENS OF BARRY COUNTY. ALL ACTIVITIES ASSOCIATED WITH THIS PURPOSE ARE INCLUDED IN DETERMINATION OF THE OPERATING INCOME. NET ASSETS OF THE HOSPITAL ARE GENERALLY UNRESTRICTED AND ARE AVAILABLE FOR THE DELIVERY OF HEALTHCARE SERVICES, WITH THE EXCEPTION OF CONTRIBUTIONS FROM INDIVIDUAL DONORS, WHICH ARE TEMPORARILY RESTRICTED FOR THE PURPOSE INTENDED BY THE DONOR. THE HOSPITAL PROVIDES CARE TO ALL PATIENTS REGARDLESS OF THEIR ABILITY TO PAY. PATIENTS WHO MEET CERTAIN CRITERIA UNDER ITS CHARITY CARE POLICY RECEIVE CARE WITHOUT CHARGE OR AT AMOUNTS LESS THAN ESTABLISHED RATES. BECAUSE THE HOSPITAL DOES NOT PURSUE COLLECTION OF AMOUNTS DETERMINED TO QUALIFY AS CHARITY CARE, THEY ARE NOT REPORTED AS REVENUE.
Describe the Organization's Program Activity:
PENNOCK CONTINUES TO INVEST IN PHYSICIAN INTEGRATION IN ORDER TO BETTER SERVE THE RURAL SECTIONS OF THE MARKET. PRIMARY CARE PHYSICIAN ADJUSTMENTS AND GROWTH OCCURRED IN BARRY COUNTY. OUR CONTINUOUS INVESTMENTS IN ELECTRONIC MEDICAL RECORDS, THE IMPROVEMENTS IN OUR CURRENT FACILITY, AND THE DEVELOPMENT OF A SEAMLESS CIRCLE OF CARE HELP TO ENHANCE PENNOCK'S SERVICE TO THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hastings Anesthesiology Pc Anasthesia Services | 6/29/15 | $467,600 |
Hdr Architecture Inc Architectural Services | 6/29/15 | $311,367 |
Spectrum Health Reference Lab / Sleep Study | 6/29/15 | $433,078 |
Progressive Building Services Inc House Keeping Services | 6/29/15 | $757,701 |
Aramark Corporation Repair Services | 6/29/15 | $291,176 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,551 |
| Investment income | $495,959 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $108,303 |
| Net Gain/Loss on Asset Sales | $4,637,664 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $55,375,814 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,363,701 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $23,709,188 |
| Pension plan accruals and contributions | $1,072,070 |
| Other employee benefits | $2,128,578 |
| Payroll taxes | $1,607,338 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $426,621 |
| Fees for services: Accounting | $112,250 |
| Fees for services: Lobbying | $4,802 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $156,649 |
| Fees for services: Other | $7,210,588 |
| Advertising and promotion | $64,895 |
| Office expenses | $1,037,975 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,437,621 |
| Travel | $315,587 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $247,126 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,261,887 |
| Insurance | $248,129 |
| All other expenses | $0 |
| Total functional expenses | $57,105,454 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $72,861 |
| Savings and temporary cash investments | $3,475,833 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,255,966 |
| Loans from Officers, Directors, or Controlling Persons | $17,833 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,029,388 |
| Inventories for sale or use | $1,014,463 |
| Prepaid expenses and deferred charges | $598,407 |
| Investments—publicly traded securities | $64,130,064 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,561,518 |
| Total assets | $99,664,710 |
| Accounts payable and accrued expenses | $7,193,195 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $10,743,760 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,873,130 |
| Total liabilities | $19,810,085 |
| Net assets without donor restrictions | $78,378,249 |
| Net assets with donor restrictions | $1,022,060 |
| Capital stock or trust principal, or current funds | $454,316 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $79,854,625 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Pennock Hospital has recieved totaling $64,732.
| Awarding Organization | Amount |
|---|---|
Michigan Health And Hospital Association Okemos, MI PURPOSE: GRANT PASS THROUGH FOR COVID-19 | $64,732 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Michigan Public Health Institute Okemos, MI | $32,297,029 | $129,374,853 |
Lakeland Hospitals At Niles & St Joseph Inc Saint Joseph, MI | $930,527,591 | $126,281,999 |
Munson Healthcare Traverse City, MI | $122,228,046 | $96,733,735 |
Mymichigan Health Midland, MI | $954,174,034 | $69,907,530 |
Promedica Coldwater Regional Hospital Toledo, OH | $47,581,485 | $78,207,651 |
Avita Health System Galion, OH | $0 | $68,948,905 |
Aultman Health Foundation Canton, OH | $594,269,420 | $64,460,387 |
Promedica Continuum Services Toledo, OH | $73,307,655 | $62,284,500 |
Sparrow Ionia Hospital Ionia, MI | $57,565,680 | $66,036,782 |
Pennock Hospital Grand Rapids, MI | $99,664,710 | $55,375,814 |
Mackinac Straits Health System Inc St Ignace, MI | $52,539,258 | $58,908,352 |
Saginaw Cooperative Hospitals Inc Saginaw, MI | $19,522,403 | $56,065,941 |